]I feel for those guys[/b]. They got sold out by their Union buddies who were looking out for the "common man" and the Democratic Party as opposed to the Big Bad Republican Party looking out for Wall Street.

They would have been better off with their pension $$$ invested 100% with Wall Street.

I don't feel bad for them. They all know they have been stealing all along. The chickens will just start coming home to roost pretty soon.

I don't feel bad for them. They all know they have been stealing all along. The chickens will just start coming home to roost pretty soon.

They don't.....they don't understand this stuff....it's too complex for the layman.

My father is a pretty smart guy......college degree + Masters at a time when most people stopped at high school diploma....HE wouldn't understand his pension status if not for the fact that his son is a Chartered Financial Analyst (CFA). As it turns out, he hasn't had anything to worry about to date and at age 83 with a $200 billion market cap company backstopping his pension plan (75% funded according to their last 5500), I doubt he will.

But others aren't as fortunate. Truck drivers aren't super-smart financially for the most part (unless they listen to financial shows and/or Rush and Sean ) but they stand to be decimated because of the corruption of their unions.

They don't.....they don't understand this stuff....it's too complex for the layman.

My father is a pretty smart guy......college degree + Masters at a time when most people stopped at high school diploma....HE wouldn't understand his pension status if not for the fact that his son is a Chartered Financial Analyst (CFA). As it turns out, he hasn't had anything to worry about to date and at age 83 with a $200 billion market cap company backstopping his pension plan (75% funded according to their last 5500), I doubt he will.

But others aren't as fortunate. Truck drivers aren't super-smart financially for the most part (unless they listen to financial shows and/or Rush and Sean ) but they stand to be decimated because of the corruption of their unions.

I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.

I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.

Sadly, alot of those policies are LEGAL and collectively bargained....blame the unions and the system and the pols (mostly Dems, but some GOPers).

I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.

as if nothing like this ever goes on in the corporate world, right . . .

as if nothing like this ever goes on in the corporate world, right . . .

I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.

I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.

I guess you've never heard of any of theses companies on the list in this link; but, I guess you're right . . .

I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.

Not only that, the employees (laid off/fired) and shareholders/owners (wiped out; equity goes to zero) are the ones who lose.

imo if it was upper management/administration you wouldn't be so upset
"Why do Officials let someone get away with thin?"-just a guess but they probably have an even more lucrative situation:
imo looks like a "little guy" ca$hed in by just playing by the rules.

Not at all.

This is a case where the experts and manipulators are on the organized labor side and they are going up against housewives and bricklayers who are totally outgunned.

This is a case where the experts and manipulators are on the organized labor side and they are going up against housewives and bricklayers who are totally outgunned.

sure they are, I never entered a negotiation session where at least one attorney and many well educated managers were actively engaged in the process. Pure jealousy and envy are the whole underlying issues here . . .

sure they are, I never entered a negotiation session where at least one attorney and many well educated managers were actively engaged in the process. Pure jealousy and envy are the whole underlying issues here . . .

The politicians need actuaries and pension experts. Even my financial expertise is lacking in the nuances of pension accounting (though I am sure I could see any problem leading to sustained sub-90% funding).

The politicians need actuaries and pension experts. Even my financial expertise is lacking in the nuances of pension accounting (though I am sure I could see any problem leading to sustained sub-90% funding).

So, you saying that all these smart leaders and managers got out foxed by their subordinates. What a bunch of flunkies ...